Economics Commons^™

The Discouraging Effect Of Overconfidence, Cary Deck, Klajdi Bregu

ESI Publications

Overconfidence is often viewed as encouraging entrepreneurs and CEOs to follow risky strategies such as entering new markets, engaging in innovation, or pursuing mergers and acquisitions. While such undertakings can generate excess returns and profits, overconfidence is frequently offered as an explanation for why so many business ventures fail. However, we show that in a setting where the decision maker does not know whether success is possible, theoretically, overconfidence can also have a discouraging effect, causing one to give up too soon. This counterintuitive result is driven by effectively misattributing one's own failure to an elevated assessment of the chance …

Sociohydrodynamics: Data-Driven Modeling Of Social Behavior, Daniel S. Seara, Jonathan Colen, Michel Fruchart, Yael Avni, David G. Martin, Vincenzo Vitelli

Data Science Faculty Publications

Living systems display complex behaviors driven by physical forces as well as decision-making. Hydrodynamic theories hold promise for simplified universal descriptions of socially generated collective behaviors. However, the construction of such theories is often divorced from the data they should describe. Here, we develop and apply a data-driven pipeline that links micromotives to macrobehavior by augmenting hydrodynamics with individual preferences that guide motion. We illustrate this pipeline on a case study of residential dynamics in the United States, for which census and sociological data are available. Guided by Census data, sociological surveys, and neural network analysis, we systematically assess standard …

Three Essays In International Trade And Macroeconomics, Jun Nie

Economics Theses and Dissertations

This dissertation examines the impact of international trade and trade policy on key economic outcomes, including income and productivity. The first chapter investigates the role of trade-induced technology diffusion in shaping global income inequality. When bilateral trade facilitates technology transfer, such diffusion can account for up to 85% of the income gap across countries. The second chapter focuses on the determinants of international trade in services. It highlights a significant link between service and manufacturing trade, conditional on the presence of foreign direct investment (FDI) relationships between trading partners. The third chapter evaluates the 2020 U.S. presidential election, aiming to …

Essays In Applied Microeconomics, William Cunningham

Economics Theses and Dissertations

This dissertation contributes to three interconnected areas of economic research: microeconomics, behavioral economics, and urban economics. Each chapter examines how individual decision-making processes may produce more pronounced economic patterns, while highlighting the role of psychological factors and spatial considerations in shaping outcomes. Chapter 1 studies the causes and dynamics of segregation in US neighborhoods. A conditional instrumental variables estimator allows for unbiased estimation of preferences for past neighborhood minority shares by addressing endogeneity concerns present in my theoretical model. I use estimated preference parameters to simulate neighborhood population dynamics for Texas. I regress measures of racial animus and xenophobia on …

Optimizing Costs In Plastic Surgery: A Systematic Review Of Time-Driven Activity-Based Costing Applications, Emily L. Isch, Gabrielle Kozlowski, D. Mitchell Self, Theodore E. Habarth-Morales, Sydney Somers, Ahilan Sivaganesan, David Kim, Heather A. Mcmahon, Andrew Newsman, Matthew Jenkins

Department of Surgery Faculty Papers

BACKGROUND: The rising complexity and cost of healthcare in plastic surgery, particularly in resource-intensive procedures like free flap and breast reconstruction, pose significant financial challenges. Time-driven activity-based costing (TDABC) offers a method to accurately assess these costs by mapping each step of the care cycle based on time and resources consumed. Although TDABC has been utilized in high-cost fields such as neurosurgery and spine surgery, its application in plastic surgery remains underexplored. This systematic review evaluates the literature on TDABC use in plastic surgery to identify key cost drivers and propose strategies for cost-efficiency.

METHODS: A systematic review was conducted …

Urban-Rural Divide In Inequality’S Impact On Substance Abuse, Jonathan E. Flores

Undergraduate Theses, Capstones, and Recitals

This thesis focuses on investigating the relationship between income inequality, measured through the Gini coefficient, and drug addiction, proxied through substance-related mortality. Specifically, this thesis focuses on how these dynamics vary across rural and urban counties in the United States, using population size as a proxy. County-level data from 2016 to 2020 were collected through both the CDC and the Census Bureau and subsequently analyzed using Stata, with crude death rates from drug and alcohol causes serving as a function of the Gini coefficient, labor force participation, racial composition, and other socioeconomic indicators. Through a quadratic version of the model, …

Benefits Of Extended Unemployment Insurance On Post-Unemployment Outcomes, Alyssa Roche

Electronic Theses and Dissertations

This thesis investigates how unemployment insurance (UI) affects individuals during and after unemployment. Drawing on historical evidence from recent recessions in the United States, publicly available data, behavioral insights, and mathematical modeling, it argues that the benefits of extending UI outweigh the potential costs. The analysis incorporates a wide range of sources, including empirical economic studies using regression models and psychology and business research that highlight behavioral responses to financial stress and job insecurity. By combining quantitative data with behavioral context, the thesis offers a more comprehensive understanding of how extended UI influences job search decisions, wage outcomes, and overall …

A Veblenian Approach To Chaos Theory, Isaiah Henry

Hatfield Graduate Journal of Public Affairs

This paper provides a comparative analysis of Veblen's belief in disequilibrium, the field of chaos theory, and how these two frameworks connect. We explore the similarities and differences between Veblen's theories and the principles of chaos theory, including their shared emphasis on complexity and unpredictability. By analyzing the connections between Veblen's economic theories and chaos theory, we can gain a deeper understanding of the nature of disequilibrium and the complex forces that shape our world.

Econ100 Economics And Society Course -- Queens College, Clive Belfield

Open Educational Resources

This is a syllabus for a contemporary course on Economics for students with no background in Economics. The course blends theory and up-to-date evidence.

Fixed Income Mathematics, Kenneth S. Bigel

Open Touro Created

2025

Bond Math is at the center of the functioning of the bond markets, yet this critical sub-finance discipline is usually not accessible to the typical investor. This is an approachable study of the mathematical theories underlying Fixed Income instruments. It is not a study of bonds per se or the bond markets. The text commences with a basic review of the time value of money, i.e., the theory of compound interest. It then proceeds to discuss how bond prices and yields are determined. Next, it covers the relationships between bond prices and general movements of interest rates in the …

(Wp 2025-03) Ethics In Economics - Not Ethics And Economics: Guidance For Researchers, John B. Davis

Economics Working Papers

This paper, originally a presentation at the 2024 World Congress of Social Economics Summer School at University of Massachusetts-Boston, discusses how ethical values can be incorporated in empirical research. It identifies mainstream economics’ barriers to doing this, and shows they produce a view of the relationship between ethics and economics that excludes ethics from economics. Mainstream economics sees this relationship as interdisciplinary – an ethics and economics. I argue it should be seen as multidisciplinary – an ethics in economics. The mainstream regards ethical values as subjective assuming that there are no facts about ethical values. But there is considerable …

Econometric Analysis Of Social Interactions And Decision-Making, Shuo Qi

Economics Theses and Dissertations

This dissertation explores the econometric analysis of social interactions and decision-making. The first two chapters advance econometric methodology by addressing key challenges in identifying and estimating peer effects, specifically tackling issues related to partial network data and endogenous link formation. The third chapter presents an empirical analysis of parental over-aspiration and its impact on children's academic outcomes, using monotone instrumental variables constructed from social network structures.

Chapter 1 is "Identification and Estimation of Discrete Choice Models with Spillovers Using Partial Network Data". This paper investigates peer effects in discrete choice models with incomplete data on social links. We consider an …

Downstream Delays: Effects Of Flooding On Childrens Education And Time Use In Peru, Miki Robert Izu

Master's Theses

Flooding is a major cause of destruction and economic loss affecting over 80 million people annually. Flooding during childhood can lead to educational setbacks with long term economic impacts. This study investigates the causal impacts of flood shocks on educational achievement and children's time use using the Young Lives Survey, a panel dataset surveying children in Peru over 19 years of childhood. This study finds that flooding causes a temporary positive "spike" in girls hours of labor immediately after a flood which subsides by three to six years after flooding. The additional hours of labor does not reduce hours of …

Effective Altruism, In-Group Favoritism, And Urban And Rural Values Across Cultures, Brian Chu

Master's Theses

Effective altruism has become an increasingly fashionable philosophy in recent years, with ardent supporters in Silicon Valley and other echelons of power. This study investigates to what extent people in urban and rural settings in the U.S., South Africa, and India act as effective altruists by employing an experiment in which participants must decide how to divide a $100 donation between two charities, one benefiting 10 people in their in-group and the other, more “effective” charity, benefiting 100 people in their out-group. The results show some areas in which U.S. urban populations act much more effectively altruistic than others, perhaps …

Learning Rules Under Asymmetric Information: A Cournot Market Experiment, Marshall H. Pentes

Honors Theses

I present the use of best response (BR) and imitation (IM) learning rules in experimental Cournot duopoly markets under asymmetric information. In treatment BR, one subject (called BR1) receives, after every round, information about their previous quantity choices, the previous market prices, their previous profits, the previous quantities of the the other firm in the market, and the previous Cournot best response to the quantity of the other firm. In treatment IM, one subject (called IM1) receives, after every round, information about the prior quantities of and profits of both firms in the market. The BR1 and IM1 subjects are …

Accountability And Efficiency: Compiled Case Studies On Economic Development, Spending, And Global Markets, Jacob W. Grimsley

Honors Theses

This is a compilation of cases worked throughout the course of one year. These cases were created and assigned for an accountancy course focused on research and writing. The cases focus on accounting related topics, while also pertaining to political happenings as well as general economic topics.

Case 02 was completed in collaboration with other honors students, and these students are indicated on the page preceding this case.

Cases 05 and 06 pertain to a semester-long project focused on the development of a Mississippi based business. This case was also completed with the help of other students, as indicated on …

Is Anterior Cervical Discectomy And Fusion More Expensive At Quaternary Care Centers? An Application Of Time-Driven Activity-Based Costing, Jay Trivedi, Advith Sarikonda, Adam Leibold, D. Mitchell Self, Nikolaos Mouchtouris, Steven R. Glener, Ashmal Sami, Kavantissa M. Keppetipola, Emily Isch, Joshua Pelta-Heller, Srinivas Prasad, Ashwini Sharan, James Harrop, Alex R. Vaccaro, Ahilan Sivaganesan

Department of Neurosurgery Faculty Papers

OBJECTIVE: Hospital setting is postulated to be a key driver of cost variation for neurosurgical procedures. Limitations in contemporary costing methodologies have led to the development of time-driven activity-based costing (TDABC). This study applies TDABC to anterior cervical discectomy and fusion (ACDF) to compare intraoperative costs at quaternary care centers versus satellite hospitals affiliated with the same health network.

METHODS: Nine hundred and fifty-eight ACDF cases performed at two quaternary care hospitals (n = 806) and six satellite hospitals (n = 152) were reviewed. Process maps were created to map the intraoperative episode, and TDABC methodology was used to calculate …

Industrial Parks And Domestic Power: Work, Industrialization, And Intimate Partner Violence In Nigeria, Faye X. Dingle

Economics Honors Projects

This paper examines the effect of industrial zone openings on women's employment, relative earnings, and intimate partner violence (IPV) in Nigeria. I exploit variation in the timing of industrial zone openings to use a staggered difference-in-differences model. I compare women near industrial zones to women near not-yet-built industrial zones and capture the effect of the average treatment effect on the treated. I perform this analysis for women within 10, 15, 20, and 25 kilometers of an industrial zone. I find that being within all distances of an industrial zone increases a woman's relative earnings compared to women in non-industrialized zones. …

The Influence Of Political Uncertainty On Financial Markets During U.S. Elections: A Comprehensive Analysis, Ryan Hale

Finance Undergraduate Honors Theses

This thesis examines the impact of U.S. presidential elections on financial market performance, focusing on volatility, investor behavior, and market returns. Political uncertainty during election years often triggers market fluctuations, influencing investor confidence, policy expectations, and sector-specific reactions. By analyzing historical election-year data, this study identifies consistent patterns of increased volatility, shifts in investor sentiment, and post-election market stabilization. Findings suggest that while short-term uncertainty affects market behavior, long-term investment strategies should prioritize broader economic trends over election-driven fluctuations. These insights provide practical guidance for investors navigating politically uncertain environments.

Sustainable Agricultural Practices And Societal Impacts: A Case Study In Central Belize, Lily Hunt

Economics Undergraduate Honors Theses

This thesis examines the relationship between climate change, sustainable agriculture, and rural development through a case study in Central Belize. Built from observations, interviews, and academic research gathered during a summer internship with the Belize Ministry of Agriculture, the research explores the challenges small farmers face as they navigate worsening climate threats - including drought, wildfire, and resource scarcity. With climate change accelerating at a faster rate in Belize than in many other countries, agricultural resilience has become a national priority. This internship focused on collecting applications for the Sustainable and Inclusive Belize Program, a government initiative that provides financial …

Changing The Game: Examining The Impacts Of Name, Image, And Likeness Legislation On Dominance Within Ncaa Division 1 Men’S Basketball, Jaclyn Noel Lawrence

Undergraduate Honors Thesis Collection

On July 1, 2021, the National Collegiate Athletic Association (NCAA) implemented a policy change allowing collegiate athletes to benefit from their name, image, and likeness (NIL), enabling them to earn additional income through partnerships without penalty. This shift sparked widespread debate regarding its potential impact on competitive balance and dominance within college athletics—a principle the NCAA has long cited in defense of its amateurism model. Controlling for player, coach, and institutional characteristics, this study estimates a comprehensive model to assess the relationship between the presence of NIL opportunities and team success. We found no evidence that NIL alone has significantly …

Cares Act And Income Inequality In The Long Run, Kathleen Washington

Honors Program: Senior Projects (Public)

In this paper, I will be looking at how the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a revolutionary public policy, led to income inequality decreasing during the Covid-19 pandemic in the US. Additionally, from the data available, the CARES Act seems to not have had any long run effects on income inequality in the US. Although, I would recommend more research on the CARES Act’s long-run effects when more data become available as time passes.

Latinas In The Figured World Of Economics: Constructing Identity And Agency, Cynthia Gamez

Open Access Theses & Dissertations

Women's endeavors to enhance their numbers, visibility, and presence in economics are a significant topic of discussion in the field of economics. While it has long been documented that women are outnumbered in economics, there was almost no research on Latinas: only on White women. Using a theoretical framework of identity and agency in cultural worlds, this qualitative study aimed to understand how Latinas who graduated with master's degrees from three universities along the U.S.-Mexico border constructed their identities and positioned themselves as economists. Ten Latinas who graduated between 2002 and 2022 from the Paso del Norte regional universities were …

Leveraging Data Analytics For Enchanced Economics Prediction: A Study Of Predictive Models And Economics Indicators, Janelle Rueda

Electronic Theses, Projects, and Dissertations

The purpose of this project is intended to investigate the lack of use of data analytics in predicting and managing the impacts of economic crises. This project investigates what economic key factors can be used to create a framework model and evaluate the effectiveness of the key economic indicator being tested as early warning signs. The project uses programs such as Excel, RStudio, and Tableau for the collection of historical data, and regression analysis to determine if certain economic indicators have a statistically significant correlation with GDP, that may help enforce systems in place to help us mitigate economic crises …

The Formation Of The American League In Baseball; Changes In American Society And Culture That Contributed To The Demand For More Baseball In The Late 19th Century, Shawn M. Smith

Bound Away: The Liberty Journal of History

The second professional major league (the American League) in baseball came about in response to the demand for more baseball entertainment due to the increased amount of leisure time Americans had in the late-19th century as society started the shift from an agricultural based lifestyle to a culture who worked predominantly in factory work.

The culture and society of the day changed drastically due to changing economic conditions of the time period. Due to monumental changes in industry, the vast majority of the population had shifted from working in an agrarian society to working in factories as a result of …

Climate Change Demands Free Markets, Glen Lyons

Journal of New Finance

William Nordhaus won a Nobel Prize for work on the economics of climate change. He advocated for the government policy of carbon pricing arguing that climate is a public good, free riders undermine action, there are unpriced negative externalities, and individuals can’t slow climate change. Nordhaus assumes that climate science is certain enough to design effective policy. This paper challenges that thinking and shows that individuals can and ARE slowing climate change. I will also review the risks of government policy, highlight the uncertainty in present day climate science, and conclude by showing that free markets are the best “policy”.

From Home To Abroad: The Intergenerational Impact Of Household Member Migration On Women’S Economic & Social Empowerment In Egypt, Menna Elgohary

Theses and Dissertations

This thesis investigates to what extent the migration of a household member to an Arab country leads to increased social and economic empowerment among Egyptian women of two age categories (15-35 and +35) over two waves. Determined through Principle Component Analysis (PCA) of panel data from Egypt Labor Market Panel Surveys in 2018 and 2023, composite indices of social and economic empowerment serve as dependent variables in an IV 2SLS regression model. The model assesses whether household member migration, proxied by migration prevalence on the district (qism) level as an IV, causes a significant increase in social and economic empowerment …

Introducing Justice And Rights To Students Of Economics, Mark D. White

Publications and Research

Most economics instruction is focused on outcomes, whether evaluated in terms of individual or collective welfare or well-being. This is consistent with economics’ roots in classical utilitarianism, and no consideration is usually given to the process by which these results obtain, which is a deontological concern of right and wrong. This can seem odd to economics students, especially in the context of trade-offs in which one party is benefited at the expense of another, or aggregate welfare is maximized while some individuals are harmed, with no consideration in either of rights, desert, or justice. This chapter argues for the importance …

Electric Commuter Rail Access In Residential Communities: A Hedonic Analysis Case Study Of Nonmarket Value Creation, Catherine A. Sunding

Scripps Senior Theses

This study quantifies the price impact on houses of a new electric commuter rail line outside of Denver, Colorado. I find a negative price impact corresponding to increased accessibility and proximity of homes to the rail stations due to the negative externalities associated with the track. I also discover an even larger negative price impact of the rail stations in the years before the stations opened to the public, indicating possible endogeneity in the location of the rail line. I attempt to account for this endogeneity using instrumental variable analysis due to a limitation of house pricing data before 2016.

The International Transracial Adoption Effect: Measuring The Well-Being Of Korean Adoptees Vs. Non-Adopted Korean Americans, Grace H. Jones

Honors Theses

In this study, I examine the differences in well-being and long-term outcomes between adopted and non-adopted Korean Americans. The vast majority of adopted Korean Americans are placed with white, heterosexual couples, positioning them in a unique position in American society. While they are raised in white families and often disconnected from Korean culture, they are still perceived and treated as Asian by society. Scholars refer to this tension as the transracial adoptee paradox. This study explores how that paradox affects both economic and non-economic outcomes. The analysis finds that adopted Koreans tend to earn higher incomes than their non-adopted peers, …